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crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

Isn't the purpose of CBDC's would be treated as "digital money"? Then probably everything is the same like filing taxes, etc.

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Yeah that is weird, that anyone gets a "refund", as that means they took "too much" money from you.... which is basically bullshit anyways.. they will just print more!!!!!!!!!

That's what I thought so also! It just doesn't matter how many tokens you have, but it still backed. But IMO, it gives the security that the token is backed by the fiat in their vault or something. Since the printing of money is nowhere near the private companies, I think it's safe to say that it's not in their power to "print" however they want, but if they collaborate with the government and print more, that's where the trouble is going to be.

jackg

copper member

Activity: 2856

Merit: 3071

https://bit.ly/387FXHi lightning theory

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And on that note... what's to stop CBDCs from just "printing more" tokens whenever they want.... still "fiat"... still a skam!!!!
Not like any CBDC is going to have a hard-cap like btc or ltc

I'd hold my breath on this on until the UK make a cbdc, I'd imagine they'd put a 2-4%.inflation rate on a coin or at least produce another cbdc that has low inflation - afaik some gold coins are legal tender still (but they're worth more just to sell on than spend).

And yeah the US irs seems crazy compared with the uks hmrc - tbh my tax return taxes about 2 hours to fill in and its about 40 pages long but it is mainly checkboxes and filling in amounts - if you file wrong and they assume its an accident then its £10 a month you don't pay the tax for added to the bill (lower than a lot of interest rates if its high enough for them to investigate)...

We could always see staking/lending with cbdcs, I think nsandi (just using UK examples) try to match inflation rates so it's likely that could continue into a cbdc...

suchmoon

legendary

Activity: 3654

Merit: 8909

https://bpip.org

I think tax prep and audit defense "industry" would fight hard against any such shortcuts. We're supposed to have an incomprehensible tax system and overpay our taxes so that we could pay someone to get the returns done and feel good about it because we're getting a "refund". Then of course we're still on the hook for any missteps along the way so that we could pay some more to avoid going to jail.

Besides fiat is already almost entirely digital and nothing really stops the government from snooping on it.

minerjones

legendary

Activity: 3206

Merit: 3596

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